Vaynerchuk Backs $7M Bet on You Wanting to Show Off Your NFTs’ IRL

Danvas is looking to bring high-art frames to high-art NFTs.

AccessTimeIconDec 14, 2021 at 2:52 p.m. UTC
Updated May 11, 2023 at 4:06 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

As NFTs continue their invasion of the art world, one startup wants to help collectors display their collections in the physical world.

Danvas said Tuesday it raised a $7 million seed round with investors including Greycroft, Lerer Hippeau, Waverley Capital, Gary Vaynerchuk’s VaynerFund, UTA Ventures, BDMI and angel investors Rich Greenfield and Jason Nazar.

  • Why Sequoia Capital Is Raising $600M to Launch New Crypto Fund
    06:39
    Why Sequoia Capital Is Raising $600M to Launch New Crypto Fund
  • Twitter Joined $20M Funding Round for Bitcoin Payments Provider OpenNode
    06:14
    Twitter Joined $20M Funding Round for Bitcoin Payments Provider OpenNode
  • Twitter Joined $20M Funding Round for Bitcoin Payments Provider OpenNode
    06:14
    Twitter Joined $20M Funding Round for Bitcoin Payments Provider OpenNode
  • Polygon Raises $450M to Build Web 3 Applications, Invest in Zero-knowledge Tech
    06:55
    Polygon Raises $450M to Build Web 3 Applications, Invest in Zero-knowledge Tech
  • The raise is just the latest example of startups looking to serve what JPMorgan now says is a $7 billion market for NFTs.

    “Our goal is to create the most experientially compelling digital art frame in the world – one that invites you to interact with digital art, and ultimately convert you into a lifelong collector,” the startup’s founders, Jeanne Anderson (a former general manager of Saatchi Art) and Hernan Lopez (founder of podcast network Wondery), said in a release.

    Right now, most displays on the market are approaching displaying non-fungible tokens as “a hack,” Anderson told CoinDesk in an interview. “They don’t want to show a beautiful piece of artwork on a sideways TV.”

    Sam Wick of UTA Ventures said the investment is a bet that museums and auction houses will continue their embrace of digital art.

    Added Vaynerchuk: “One of the missing links between the traditional and digital art worlds is display. How can you show your pieces in a way that matches their value and significance?”

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Michelle Bloom

    Michelle Bloom is CoinDesk's Senior Social Media Editor. She doesn't hold any crypto (yet).


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.



    Read more about